I know some people in here use them so I am posting it here. this e-mail was sent out today...................................


*NOTICE To Northfinance Clients...*
------------ --------- --------- --------- --------- --------- -
International Financial Services Commission,
New Administration Building,
Belmopan,
Belize, C.A.

4 August 2006

WARNING NOTICE

NORTH FINANCE COMPANY LTD

It is notified for general information that NORTH FINANCE COMPANY LTD is
not licensed by any competent authority in Belize to engage in foreign
exchange transactions, or to engage in any other international financial
services.

All persons are asked to take note and exercise caution.

GIAN C. GANDHI
DIRECTOR GENERAL
International Financial Services Commission

from http://www.ifsc. gov.bz/notices. html

Thanks for this notice
same as this thread http://www.forex-tsd.com/metatrader-...ghlight=Gandhi

==============
Forex Indicators Collection

I am not using NorthFinance for real account, but I am using their demo. This is the converstion with them. But my personal opinion, YES THEY ARE SCAM!


Welcome to our live chat service!
Chat InformationNorthFinance Support: Hello. How may I assist you?
NorthFinance Support: Good day, my name is Hamed. How may I help you?
you: hi! I am a potential new customer
you: I would like to know your explanation regarding the notice from international financial services
you: http://www.ifsc.gov.bz/notices.html
you: WARNING NOTICE NORTH FINANCE COMPANY LTD It is notified for general information that NORTH FINANCE COMPANY LTD is not licensed by any competent authority in Belize to engage in foreign exchange transactions, or to engage in any other international financial services. All persons are asked to take note and exercise caution. GIAN C. GANDHI DIRECTOR GENERAL International Financial Services Commission
NorthFinance Support: we are an off shore company registered in belize, since we do not operate on belize, or exchange any transactions or engage in financial transactions inside the country, then that statement is true and correct, and we have abided by it!
you: so? I would like to know how we can trust you since there is a warning from them?
NorthFinance Support: its not a warning!! it says that we will be breaking the law IF WE operate as an INSHORE company in belize, but as i said, we are a registered offshore company
you: From where do you operate? and any supporting information / license for you to operate?
NorthFinance Support: we have offices in many countries including China, Cyprus, Russia, Japan...
NorthFinance Support: the support team is based in cyprus,
you: any license?
NorthFinance Support: we do, but i'm sorry i can not provide you with them,
you: You just do not have any license and even you do not have secure certificate (SSL) from Thawte/Verisign.
you: https://fxpanel.northfinance.com
NorthFinance Support: fxpanel? thats a personal cabinet for clients personal data!
you: For Opening new account, it will go to that web, and it is without web security certificate (SSL). Verisign/Thawte will normally investigate on the company, and you do not have it.
NorthFinance Support: that is totally optional, and it is used when you have to provide password and user name , this is what it is for, in our registration, you do not provide the mentioned details...it is pointless to have verisign...
NorthFinance Support: May I help you with anything else?
you: It is not pointless, but you have tried to be untouchable. The way you choose your affiliate in each countries is also a big mistakes. Many of them are not trustworthy and you just know them from email. It is not a representative office
NorthFinance Support: if you check in our site, there is even addresses for each and everyone, but if you do not trust, then that is your right, and you may choose not to! it is of course your decision, i can not help you with that
NorthFinance Support: May I help you with anything else?
you: that's all. Thank you.

yea thats scary

Talk about customer service....

Glad i'm not with them, and for anyone who is, do yourself a favor and excercise EXTREME caution.

B

__________________
Cheers,

B

I don´t understand this slandering of NorthFinance at all.
Must be funny or give you a kick ?

I have a live-account with NF for about 9 months.
I had 76k funds there and never ever had any problems with them.

Withdrawals to e-gold are done within one hour after request.
I am talking about withdrawals of 10k and more.

Withdrawals by bank-wire ( 25k ) done within 24 hours ( and that is because of the banks involved, the banks are those who delay )

support always friendly and help in each case.

A friend of mine has an account with North Finance funded with 800k .
No problems at anytime.

Hi, I have a live account with them as well. I have never had any problems withdrawing funds. Takes 3 days via wiretransfer to South Africa

slandering????

you need to look at this site then.

http://www.ifsc.gov.bz/notices.html

these are facts.

and what about the above conversation with them where they state they won't provide proof of liscence?

I really don't care myself. Just thought others might plus nobody said there bad just that they don't seem to be governed.

I have looked at that site and what does it mean ?
Do you have any experience with IBCs ?
IBC = International Business Corporation .

I think you have no experience at all, otherwise you would not quote from the warning site.

I have two IBC´s and I will tell you a bit about it:
I open an IBC ( in my case I did this in Panama which has similar laws).
With this IBC I can do business all over the world. Any kind of business.
The IBC does not have to pay any taxes for income earned outside of Panama.

The IBC is not licensed to engage in foreign exchange transactions nor is it licensed to engage in any other financial services.

Could I act like a bank with my IBC ?
No, this would need a license.
Could I act as a payment processor with my IBC ?
No, this would need a license.

Does NorthFinance act as a bank ?
No, they don´t .
Does North Finance act as a payment processor ?
No, they don´t .

What is NF doing ?
They are a broker for Forex.
Do they need a license to be a broker ?
No, they don´t.
Do they need a license from a Belize authority to be a Forex-broker ?
No, they don´t.
Do they need a license from another government authority to be a Forex-Broker ?
No , they don´t.
Are there unlicensed Forex brokers other than NF ?
Yes, there are many of them.

Maybe you want to look up "payment processor license" or "bank-license" and find out about the license the government site is talking about.
Then you would understand the warning and that it does not apply to NorthFinance.
For example: http://www.offshore-protection.com/l...anamaCorp.html
Do you understand the difference between a registered IBC and a Licensed Company ?
This is crucial.

The official warning from the Belize government is referring to the licenses mentioned above.
North Finance neither needs such licenses to be a Forex-broker not does NF claim to have such licenses.
North Finance is registered in Belize as an IBC.
That is all.

Calling a legally registered company a scam by misinterpreting the official warning is still slandering.

Chat InformationWelcome to our live chat service!
Chat InformationNorthFinance Support: Hello. How may I assist you?
NorthFinance Support Team: I'm Mirna , how may i assist you.
you: hello
NorthFinance Support Team: hello sir, how may i help you?
you: i wanted to ask you
you: if you are regulated by NFA or anything like that?
NorthFinance Support Team: NorthFinance Company LTD. Is registered as
an
offshore company is not regulated by USA or European national
regulatory
bodies. However, our subsidiaries and some of our Ibs are regulated on
a
national level
you: ah, that good
you: ok, next question
you: how safe my money are?
NorthFinance Support Team: Our client's money are kept in a segregated
(separate) client account i.e. client money is held separately from
company funds and cannot be used by North Finance Ltd except for client
dealing purposes. Client funds cannot be used to guarantee North
Finance
ltd accounts or to offset North Finance Ltd loans.
you: thats good
you: and what about bank guarantee?
you: do you have smth like that?
NorthFinance Support Team: We offer to Clients who fund their account
with 100.000 $US and above bank guarantee.
you: which bank?
you: ok, thnaks alot guys, I knew that you offer many interesting
things :-)
NorthFinance Support Team: Your Mostly Welcomed
NorthFinance Support Team: at your service
you: bye
NorthFinance Support Team: bye